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Man arrested for thefts from Lancaster County women - abc27 WHTM

Man arrested for thefts from Lancaster County women

Posted: Updated:
NEW HOLLAND, Pa. (WHTM) -

Police have arrested a Danville man who's accused of stealing nearly $40,000 from two Lancaster County women.

An elderly Earl Township woman told police Paul J. Cero was acting as her "insurance man" when he encouraged her to cash out a $20,000 annuity for an investment with large returns.

New Holland police said she received only $1,400 on her investment and Cero eventually stopped returning her calls.

A Honeybrook woman reported a similar situation where Cero drove her to a bank and directed her to wire $20,000, police said.

She said she never received any money and Cero would not return her calls.

New Holland police conducted a two-year investigation into Cero. They said the money was wired to a now-closed account.

Cero, 63, is charged with two counts of theft by deception. He posted bail, which was set at $150,000.

Police said he is not a licensed securities broker in Pennsylvania.


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